Methanex Co. (NASDAQ:MEOH) receives average rating of “moderate buy” from analysts

VaselineAugust 17, 2024

0 3 minutes read

Shares of Methanex Co. (NASDAQ:MEOH – Get Your Free Report ) (TSE:MX) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $56.75.

A number of research firms recently weighed in on MEOH. Piper Sandler raised Methanex from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $50.00 to $51.00 in a report on Wednesday, August 7th. Jefferies Financial Group raised their target price on Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Scotiabank raised their target price on Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 10th. UBS Group dropped their target price on Methanex from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Methanex in a report on Thursday, August 1st.

Get the latest research report on Methanex

Institutional inputs and outputs

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. M&G Plc bought a new position in Methanex in the first quarter valued at about $589,459,000. FIL Ltd raised its position in Methanex by 4.9% in the fourth quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after acquiring an additional 346,475 shares in the last quarter. Wellington Management Group LLP boosted its position in Methanex by 15.2% in the fourth quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock valued at $216,043,000 after purchasing an additional 599,778 shares in the last quarter. Vanguard Group Inc. grew its position in Methanex by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company’s stock valued at $111,000,000 after acquiring an additional 43,178 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Methanex by 16.3% in the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock valued at $55,406,000 after acquiring an additional 159,542 shares in the last quarter. Institutional investors own 73.49% of the company’s shares.

Methanex trading down 0.9%

Shares of Methanex stock opened at $45.07 on Friday. The company has a fifty day simple moving average of $47.69 and a two hundred day simple moving average of $47.52. Methanex has a 1 year low of $38.31 and a 1 year high of $56.43. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 19.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25, and a quick ratio of 0.85.

Methanex (NASDAQ:MEOH – Get Your Free Report ) (TSE:MX) last posted its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The company had revenue of $920.00 million during the quarter, compared to the consensus estimate of $954.26 million. In the same quarter last year, the firm earned $0.60 per share. The company’s revenue was down 2.0% year over year. research analysts anticipate that Methanex will post 2.22 EPS for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.185 dividend. This represents a dividend of $0.74 on an annualized basis and a yield of 1.64%. The ex-dividend date is Monday, September 16. Methanex’s dividend payout ratio (DPR) is currently 31.36%.

Methanex Company Profile

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Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada and Asia. The Company also purchases methanol produced by others through methanol off-take contracts and in the spot market. In addition, it owns and leases storage facilities and terminals.